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COMPANY REGISTRATION NUMBER: 13348392
LTD Inc Limited
Filleted Unaudited Financial Statements
30 April 2023
LTD Inc Limited
Financial Statements
Year ended 30 April 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
LTD Inc Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
353
Investments
6
12,416
50,030
--------
--------
12,769
50,030
Current assets
Debtors
7
3,766
64,118
Cash at bank and in hand
7,737
44,032
--------
---------
11,503
108,150
Creditors: amounts falling due within one year
8
40,111
34,604
--------
---------
Net current (liabilities)/assets
( 28,608)
73,546
--------
---------
Total assets less current liabilities
( 15,839)
123,576
--------
---------
Net (liabilities)/assets
( 15,839)
123,576
--------
---------
Capital and reserves
Called up share capital
167
111
Share premium account
440,853
Other reserves
266,546
Profit and loss account
( 456,859)
( 143,081)
---------
---------
Shareholders (deficit)/funds
( 15,839)
123,576
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LTD Inc Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
D Kelly
Director
Company registration number: 13348392
LTD Inc Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Bell Yard, London, WC2A 2JR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 2 ).
5. Tangible assets
Equipment
£
Cost
At 1 May 2022
Additions
404
----
At 30 April 2023
404
----
Depreciation
At 1 May 2022
Charge for the year
51
----
At 30 April 2023
51
----
Carrying amount
At 30 April 2023
353
----
At 30 April 2022
----
6. Investments
Other investments other than loans
£
Cost
At 1 May 2022
50,030
Additions
119,283
Disposals
( 156,897)
---------
At 30 April 2023
12,416
---------
Impairment
At 1 May 2022 and 30 April 2023
---------
Carrying amount
At 30 April 2023
12,416
---------
At 30 April 2022
50,030
---------
7. Debtors
2023
2022
£
£
Other debtors
3,766
64,118
-------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
32,990
30,328
Other creditors
7,121
4,276
--------
--------
40,111
34,604
--------
--------
9. Related party transactions
At the year end the company owed £5,571 (2022: £3,076) to a director.